Asked by Anonymous
I am a 34-year-old single individual turning 35 next year. I intend to continue living with my parents and helper, which necessitates a three-bedroom arrangement for owner-occupation. At the same time, I am exploring the purchase of a separate property primarily for rental income and long-term investment.
My parents currently own a three-bedroom condominium that can generate approximately $4,000 per month in rental income. They are willing to move in with me during the HDB Minimum Occupation Period (MOP) and cover my mortgage obligations should I proceed with an HDB purchase.
I have approximately $300,000 in liquid assets and $50,000 in CPF savings. Based on my current income, my estimated loan eligibility is about $220,000 for an HDB loan or $320,000 for a private property loan.
Given these circumstances, I would appreciate guidance on which of the following options would be most suitable from a household and investment perspective:
• Purchasing a studio or one-bedroom condominium and renting it out immediately
• Purchasing a four-room resale HDB flat, renting out the existing condominium for five years, then moving back into the condominium and renting out the HDB for rental income, noting that within my budget the remaining lease of the HDB may be relatively short
• Purchasing a three-room resale HDB flat and renting out the spare bedrooms while retaining one bedroom for my own use
My parents currently own a three-bedroom condominium that can generate approximately $4,000 per month in rental income. They are willing to move in with me during the HDB Minimum Occupation Period (MOP) and cover my mortgage obligations should I proceed with an HDB purchase.
I have approximately $300,000 in liquid assets and $50,000 in CPF savings. Based on my current income, my estimated loan eligibility is about $220,000 for an HDB loan or $320,000 for a private property loan.
Given these circumstances, I would appreciate guidance on which of the following options would be most suitable from a household and investment perspective:
• Purchasing a studio or one-bedroom condominium and renting it out immediately
• Purchasing a four-room resale HDB flat, renting out the existing condominium for five years, then moving back into the condominium and renting out the HDB for rental income, noting that within my budget the remaining lease of the HDB may be relatively short
• Purchasing a three-room resale HDB flat and renting out the spare bedrooms while retaining one bedroom for my own use
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